Olympus Corp. has filed a lawsuit against former and incumbent executives of the company, including former Chairman Tsuyoshi Kikukawa and President Shuichi Takayama, over their alleged involvement in a cover-up of massive investment losses.
According to sources, the major optical equipment maker filed the lawsuit Sunday with the Tokyo District Court against about 20 former and incumbent executives, demanding they pay several billion yen in compensation.
On Saturday, a committee of lawyers investigating the involvement of successive board members in the scandal concluded that about 20 people, including Takayama, bear responsibility in the cover-up of investment losses. The committee later submitted a report to the company saying Olympus has suffered damages of about 90 billion yen in activities related to the cover-up. (Yomiuri)
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